EU Reiterates Commitment To Support Cambodia’s LDC Transition

date_range 14-Mar-2024
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Phnom Penh, March 14, 2024 --

The European Union (EU) has reiterated its commitment to support for Cambodia’s graduation from the least development country (LDC) status and ready to talk with Cambodia’s side on the new trade scheme - EU's Generalised Scheme of Preferences Plus (GSP+).

The commitment was made by H.E. Ms. Jutta Urpilainen, European Commissioner for International Partnerships, at a press conference held on Mar. 13 at Phnom Penh International Airport after concluding her fruitful visit in Cambodia.

Commissioner Urpilainen’s two-day trip in Cambodia gave her the opportunity to take stock of the European Union’s longstanding cooperation with the Royal Government of Cambodia.

H.E. Ms. Jutta Urpilainen said it was a pleasure for her to visit Cambodia and to discuss EU partnership with the Royal Government. Cambodia has come a long way in its development path, lifting millions of people out of poverty over the past two decades.

“With the upcoming graduation from Least Developed Country status, Cambodia has now come to a critical juncture. The European Union is committed to its partnership with Cambodia, based on our values and on human rights principles, to accompany the delicate transition,” she said.

The EU is ready to talks with Cambodia’s side over the new trade scheme - GSP, giving the Kingdom enjoys trade preferences after BA scheme ends when the country graduates from LDC status, she added.

Starting at the highest political level, Commissioner Urpilainen had an excellent meeting with Samdech Moha Borvor Thipadei Hun Manet, Prime Minister of Cambodia, followed also by one with H.E. Sok Chenda Sophea, DPM and Minister of Foreign Affairs, on the new government’s priorities and its relationship with the EU.

The Commissioner met with DPM and Minister of Economy and Finance, H.E. Aun Pornmoniroth, in a signing ceremony to launch four programmes supporting green transition in Cambodia, with a focus on promoting sustainable value chains, energy efficiency and renewable energy. These initiatives aim to promote the green transition and support the integration of Cambodian products into regional and international markets.

She paid a visit to the Bakheng water treatment plant (a Global Gateway flagship investment in clean water, supported by the EU and France) and met with representatives from Civil Society. She also met with European Businesses on the opportunities to invest and work in Cambodia, and views on the business environment.